$130B in data center projects blocked or delayed in Q1. That matches all of 2025 in just one quarter of this year.

75 projects. Opposition groups doubled from 396 to 833 across 49 states in three months. 300+ bills filed in the first six weeks of the year, moratorium proposals in 14 states, and New York's legislature just passed a one-year pause on anything over 20MW. Gallup has 71% of Americans opposing a data center near their home, up from roughly half a year ago.
Meanwhile hyperscalers plan to spend $690B on capex this year alone, as if none of this is happening.
Here's what makes this structural, not cyclical: opposition now mobilizes before a project is even filed. A rumor of a data center is enough to trigger organized resistance. The industry's entire supply forecast assumes permits are a formality but its quickly turning into a huge bottleneck
Power was supposed to be the constraint. Turns out the constraint is a zoning meeting.